Drawing insights from the field of innovation economics, we discuss the likely competitive environment shaping … stifling broad sectoral innovation. We conclude with speculations regarding how this oligopolistic future might be averted … competition and incentives for extending the generative AI frontier. Ironically, the best hopes for a vibrant open source AI …

beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can … fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre …-merger marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the …

Though fundamental to innovation and essential to many industries and occupations, individual creativity has received … effects of competition on individuals' creative production. Using a sample of commercial logo design competitions, and a novel …, content-based measure of originality, I find that intensifying competition induces agents to produce original, untested ideas …

We study how competition between two downstream firms affects an upstream innovator's innovation strategy, which … upstream innovation: at low levels of competition, market-wide licensing is optimal and competition reduces innovation, while … at high levels of competition targeted licensing is optimal and competition increases innovation. Empirical analysis …

failure tolerance and a sharp guillotine helps explain when and where radical innovation occurs …

We present a model of market competition and product differentiation in which consumers' attention is drawn to the …-commoditized" quality salient equilibria. When the cost of producing quality changes, innovation can lead to a radical change in markets. In … the context of financial innovation, the model generates the well documented phenomenon of "reaching for yield" …

product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … with step-by-step innovation models predicting that product market competition enhances innovation and, more importantly …, that patent protection can complement competition in inducing innovation …